Mitsubishi UFJ Trust & Banking Corp Sells 29,632 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Quest Diagnostics Incorporated (NYSE:DGXFree Report) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 186,283 shares of the medical research company’s stock after selling 29,632 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Quest Diagnostics were worth $22,700,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DGX. Vanguard Group Inc. increased its position in Quest Diagnostics by 4.8% in the first quarter. Vanguard Group Inc. now owns 14,014,030 shares of the medical research company’s stock worth $1,917,961,000 after buying an additional 636,301 shares in the last quarter. Victory Capital Management Inc. increased its position in Quest Diagnostics by 5.6% in the third quarter. Victory Capital Management Inc. now owns 3,414,514 shares of the medical research company’s stock worth $416,093,000 after buying an additional 180,889 shares in the last quarter. Geode Capital Management LLC increased its position in Quest Diagnostics by 3.1% in the second quarter. Geode Capital Management LLC now owns 2,422,912 shares of the medical research company’s stock worth $339,688,000 after buying an additional 72,447 shares in the last quarter. Northern Trust Corp increased its position in Quest Diagnostics by 0.6% in the first quarter. Northern Trust Corp now owns 1,514,577 shares of the medical research company’s stock worth $207,286,000 after buying an additional 8,406 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Quest Diagnostics by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 1,462,970 shares of the medical research company’s stock worth $205,635,000 after buying an additional 4,746 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

Quest Diagnostics Trading Up 0.2 %

DGX opened at $126.74 on Monday. Quest Diagnostics Incorporated has a 52 week low of $119.59 and a 52 week high of $148.91. The business has a fifty day simple moving average of $134.31 and a 200-day simple moving average of $131.45. The firm has a market cap of $14.25 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.73 and a beta of 0.92. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.

Quest Diagnostics (NYSE:DGXGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Quest Diagnostics Incorporated will post 8.78 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is 37.92%.

Wall Street Analyst Weigh In

DGX has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Quest Diagnostics from $148.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Bank of America upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $160.00 in a research report on Tuesday, December 12th. UBS Group increased their target price on Quest Diagnostics from $135.00 to $137.00 and gave the stock a “neutral” rating in a research report on Thursday, December 7th. TheStreet cut Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $146.91.

Get Our Latest Research Report on DGX

About Quest Diagnostics

(Free Report)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Institutional Ownership by Quarter for Quest Diagnostics (NYSE:DGX)

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